Electric Vehicles & Charging Infrastructure
Ola Electric, the electric vehicle (EV) arm of ride-hailing company Ola, has announced raising $100 million from investors, including SoftBank. The company plans to use the funds to boost its EV manufacturing capabilities and expand to more cities across India.
The company has been ramping up its EV offerings in recent years, including launching its Ola Electric Mobility app to allow users to book EV rides. Ola Electric also recently launched a range of electric scooters, which have been well-received by consumers.
Meanwhile, Indian automotive parts manufacturer Motherson Sumi Systems has announced a joint venture with Dutch firm Stellantis to develop EV components for the global market. The joint venture will focus on developing systems for battery management, electric power steering, and more.
In addition, Korean EV maker ElectraMeccanica has acquired a manufacturing facility in Arizona, USA, to produce its flagship SOLO electric vehicle. The acquisition will enable ElectraMeccanica to ramp up production and meet growing demand for its EVs.
Education & Technology
EQuest Education Group has raised $9 million in funding to expand its digital learning platform. The platform offers personalized learning experiences to students across India, with a focus on STEM subjects.
Another edtech company, Skill-Lync, has raised $17.5 million in funding from investors such as Iron Pillar and Inventus Capital. The company offers job-oriented courses in engineering and related fields, with a focus on practical skills and real-world applications.
Furthermore, Indian language learning app, Multibhashi, has raised $1.5 million in funding to expand its offerings and reach more users. The app offers courses in multiple Indian languages, including Hindi, Tamil, and Telugu.
Agriculture & Aquaculture
Finally, Indonesian aquaculture firm eFishery has raised $30 million in a Series B funding round, led by Go-Ventures and the Northstar Group. The company specializes in developing smart feeding solutions for fish farms, using sensors and artificial intelligence to optimize feeding and improve productivity.
The funding will be used to expand eFishery’s operations and improve its technology. The company aims to become a global leader in sustainable aquaculture by 2025.
These recent funding rounds highlight the growing importance of EVs, technology, and sustainable agriculture in India and beyond. As more investors pour money into these sectors, we can expect to see continued innovation and advancement in the years to come.